Nalco intend to Raising Foreign Funds via Following-on public offering

New Deli, Dec. 11—Nalco said on Tuesday that the feasibility research work of its project in Indonesia will be finished in six months and fund raising will also be completed then. It said that they plan to invest 150 billion dollars on constructing a 250,000 annual output aluminum smelter and a 750 KW power plant initially, which plan to launch in middle 2009. “We will double the production capacity before 2011-12”, he added. Nalco intend through Following-on public offering to raise the left money. It also intends to learn 60 billion rupees to introduce advanced equipment. Nalco is favoring to set up large-scale integrated smelter project in Orissa, including bauxite exploring, alumina refiner and power plant, aluminum smelter.